Philip James Wealth Mangement LLC Increases Stock Holdings in General Mills, Inc. $GIS

Philip James Wealth Mangement LLC grew its position in General Mills, Inc. (NYSE:GIS) by 840.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 134,278 shares of the company’s stock after buying an additional 120,007 shares during the quarter. General Mills accounts for approximately 0.9% of Philip James Wealth Mangement LLC’s holdings, making the stock its 25th biggest holding. Philip James Wealth Mangement LLC’s holdings in General Mills were worth $6,957,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in GIS. Garde Capital Inc. increased its position in shares of General Mills by 101.5% in the second quarter. Garde Capital Inc. now owns 524 shares of the company’s stock valued at $27,000 after buying an additional 264 shares in the last quarter. Perkins Coie Trust Co boosted its stake in shares of General Mills by 69.2% during the first quarter. Perkins Coie Trust Co now owns 516 shares of the company’s stock valued at $31,000 after acquiring an additional 211 shares during the last quarter. Armstrong Advisory Group Inc. acquired a new stake in shares of General Mills during the second quarter valued at $32,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of General Mills during the first quarter valued at $34,000. Finally, GKV Capital Management Co. Inc. acquired a new stake in shares of General Mills during the first quarter valued at $34,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

GIS has been the topic of a number of analyst reports. Bernstein Bank decreased their price objective on General Mills from $55.00 to $54.00 and set a “market perform” rating on the stock in a research note on Thursday, September 18th. Wall Street Zen raised General Mills from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. The Goldman Sachs Group lowered General Mills from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $68.00 to $58.00 in a research note on Monday, June 9th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $45.00 price objective (down previously from $53.00) on shares of General Mills in a research note on Wednesday, August 20th. Finally, Royal Bank Of Canada raised General Mills from a “sector perform” rating to an “outperform” rating and decreased their price objective for the company from $67.00 to $63.00 in a research note on Thursday, June 26th. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, General Mills currently has an average rating of “Hold” and an average target price of $55.82.

Insider Buying and Selling at General Mills

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of General Mills stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $50.04, for a total value of $200,160.00. Following the transaction, the insider directly owned 66,593 shares of the company’s stock, valued at $3,332,313.72. The trade was a 5.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.30% of the stock is owned by corporate insiders.

General Mills Stock Up 0.6%

Shares of NYSE:GIS opened at $50.73 on Thursday. The stock’s 50-day moving average price is $49.76 and its two-hundred day moving average price is $53.19. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. General Mills, Inc. has a 12-month low of $48.29 and a 12-month high of $74.43. The firm has a market cap of $27.06 billion, a price-to-earnings ratio of 9.59, a PEG ratio of 1.27 and a beta of -0.03.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same period last year, the company earned $1.07 EPS. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. On average, research analysts forecast that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Friday, October 10th. General Mills’s payout ratio is currently 46.12%.

About General Mills

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.